Nordea AM launches two Article 9 bond funds
Labelled bond market continues to grow across Europe, reports Hannah Williford
Fixed Income
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M&G’s private credit ELTIF opens up to wholesale investors
Strategy was launched by the firm’s private markets business last November with an initial €500m committed
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What do the conflicting signals of the bond market mean for investors?
Valuations across some parts of the credit market could look stretched
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Crisis valuations – without the crisis
Sometimes the market is not just inefficient, it throws up opportunities that defy logic – and today, argues Jack Holmes, is such an occasion
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Yields and regulations reinforce a positive preferred securities outlook
Solid issuer fundamentals today and tighter bank regulations to come should combine to provide a credit tailwind High-quality preferred securities, primarily issued by investment-grade-rated companies, currently offer 7% to 9% yields – considerably greater than what is available from investment-grade corporate bonds. As Chart 1 shows below, yields on over-the-counter (OTC) and contingent capital (CoCo)…
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First Sentier receives regulatory green light for AlbaCore partnership
First Sentier Investors has received all regulatory approvals to form a strategic partnership with boutique European alternative credit manager AlbaCore Capital Group, the asset manager announced. Mark Steinberg, CEO of First Sentier Investors, said that the completion of the group’s majority investment into a strategic partnership with AlbaCore would diversify the range of investment capabilities…
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Green bonds drive 2023 global ESG debt market
Green bonds are propelling the worldwide ESG debt market, according to analysis by Bloomberg Intelligence, writes Laura Miller. The resilience of the green bond market in the first nine months of the year saw issuance exceed $505bn – or 48% of total sustainable issuance – up 8% on the same period last year. Social bond…
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Soft landing or soft economy – what do rising bond yields signal?
Are bonds a good or bad investment in the current environment? Sarah Godfrey takes a closer look Bond yields can be a real head-scratcher for investors. Rising yields are a function of falling prices; falling prices usually mean an asset is out of favour, yet higher bond yields signal better returns for those who buy…
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Nomura launches corporate hybrid bond fund
Nomura Asset Management (NAM) has launched a corporate hybrid bond fund open to investors across Europe. The Nomura Funds Ireland – Corporate Hybrid Bond Fund aims to provide investors with exposure to high quality issuers with yields comparable to those of high yield bonds. The strategy will be managed by NAM head of corporate hybrid…
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Low spreads, high inflation and rising defaults: Navigating fixed income in 2023
There is a question over whether spreads adequately reflect the outlook for the global economy
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What to make of high yield’s time in the sun
Corporate bond yields may look superficially attractive but, writes Cherry Reynard, this is a time to identify the strongest credit manager available The high yield market is in an odd position. On the one hand, there are clear and mounting signs of corporate distress – bankruptcies and defaults are rising and many companies are feeling…
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EC runs investor survey, following seventh EU-Bond transaction of 2023
The European Commission (EC) launched its first investor survey this week to gauge opinion on its borrowing activities and status as an issuer. The survey, which can be seen here, has been put together by the EU with the assistance of BofA Securities, Credit Agricole CIB, and HSBC. The EC noted: “The survey – which…